Tag Archives for " cost of goods sold "

What Is a Weighted Average?
Most people know how to do a simple average, but have trouble with a weighted average. Weighted averages are all around us, although you may not have realized it. In most classes,

Last-in, first-out (LIFO) is an inventory method popular with companies that experience frequent increases in the cost of their product. LIFO is used primarily by oil companies and supermarkets, because

What Is a Discount?
We all love discounts, but why would a business offer offer a discount on their products? Typically, a business might offer a discount to increase sales, make an unhappy customer happy

What is Inventory?
Inventory is an asset account composed of items a company is planning to sell to customers. In financial accounting, we deal primarily with merchandising companies. A merchandiser is